Colonnade Pension Trustee services represent and act in the best “interests” of the beneficiaries. We are ethical, considered, balanced and independent, taking appropriate legal advice when necessary at every relevant stage.
The appointment of Pension Trustee is provided for the purpose of Pension Scheme and other corporate based Trust Fund management.
The service broadly covers two different positions that can be combined: Administrative and Consultant Trustee. Each appointment accepted carries its own ‘run-off’ and liability insurance.
We are usually approached by directors of the company that sponsor the scheme, who may also happen to be Scheme Trustees. It is the Trustees who appoint Colonnade and to whom we report, however we are pragmatic to understand at times, a scheme sponsored by the employer may simply be a legacy arrangement that could be presenting a financial burden for both the scheme and the Company.
Administrative Pension Trustee
- Stewardship function
- Prepare and submit Accounts for audit
- Arrange for periodic Actuarial valuation
- Maintain up to date beneficiary register
- Maintain proper pensioner register
- Ensure payments to pensioners are up to date and properly made
- Make all Returns to HMRC
- Ensure communication is properly maintained with beneficiaries
- Ensure all entrants to the Scheme are properly vetted
- Maintain an open and cordial relationship with the Scheme Sponsor
Consultant Pension Trustee
- Attend Trustee meetings
- Review of Trust Deed for required changes
- Reference to historical Deeds and documentation
- Consult with pension solicitor on Trust Deed
- Deal with funding issues with the IFA
- Conduct legal search for missing beneficiaries
- Negotiation with Pensions Regulator
- Negotiation with Pensions Protection Fund
- Avoiding the Levy
- Deal with HMRC and tax issues
- Winding down of scheme